TTC 204 Commodity Futures Trading Certificate

In this Module we concentrate on equity and commodity markets. Traders are being offered a greater choice of trading activity including more complex strategy trading opportunities, multi-product arbitrage, market making and cross-border trading. In addition, exchanges and front-end trading system providers are offering enhanced functionality for the trader to use. We also detail how traders can make the most of these opportunities using cash market products and their equivalents, the various derivative trading instruments including Futures, ETFs and CFDs.

Our objective is to:

  • Describe each of the derivative product types and their price/risk behaviour
  • Describe why a trader would want to trade futures rather than cash market products
  • Explain initial and variation margin and how the margin account works

Module Topics:

Part 1 Pricing Futures:

  • How futures are priced versus cash markets
  • Fair value, Basis convergence, Cost of carry model
  • How futures and other cash equivalents provide gearing/leverage opportunities
  • The pricing conventions for quoting futures and the special case of interest rate futures
  • Directional trades and when they are placed
  • The dealing spread, scalping and market making
  • Efficient order and trade management
  • Legging into spreads and combinations
  • Pyramiding winners and cutting losers

Part 2 Trading futures and options on futures

  • Understanding the risks implicit in trading derivatives
  • How futures are priced versus cash markets
  • Fair value, Basis convergence, Cost of carry model
  • How futures and other cash equivalents provide gearing/leverage opportunities

Special Study:

Energy Inter-market Relationships: Crude Oil(Brent, WTI, Urals, CPC), and Gas Oil (Crack Spread, the WTI/Brent arbitrage

  • How each element of the energy markets influences the others
  • The role of the interest rates, the US Dollar and other global currencies in the price movement of energy products
  • Energy market relationship to metals and industrial products markets
  • Influence of CPI/PPI on energy markets

 

Contact [email protected] to learn more about our scheduled Advanced courses.

All efforts will be made to offer a fair response to cancellation of the course attendance. Course attendance can be cancelled at any time prior to the course commencing, in writing. If attendance is cancelled with over 30 days remaining before the course starts, a full refund of monies paid minus a £40 administration charge will be issued. If a cancellation request is received with between 29 and 7 days remaining before the course starts, a deduction of 10% in addition to the administration charge will be made before a refund is issued. If attendance is cancelled less than one week before the course starts, 70% of the monies paid in addition to the administration charge will be deducted before a refund is issued.
Full Payment is due 30 days before the course starts.
There are only 20 available places on the Course so contact us early for booking and course information. Contact [email protected] for Course registration details.
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Duration: 18th/19th June 2020

Testimonials

"I chose to study the Finance Trading Programme (FTP) as I wanted to get a more hands-on approach on complex financial topics. During normal lectures, we don’t have the time to see whether the theories we learn are applicable to the real world, and if they are, how. The Trading Programme provides me with the practical tools that I will need in the real world to analyse the markets and based on that, take trades." - MSc Investment and Finance Student

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